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Sri Lanka To Hold Talks With Bondholders on Restructuring
September 13, 2024
The Sri Lankan government and its offshore bondholders are holding a third round of talks this week to agree on its $12.6bn debt restructuring, as per sources. This comes after their talks in July where they reached a preliminary agreement with their creditors. The creditor group includes Amundi, BlackRock and T Rowe Price that hold about 50% of its outstanding offshore bonds. The July deal with private bondholders spoke about a 28% haircut, and the issuance of macro-linked bonds. The agreement needs the IMF’s backing and its bilateral creditors, like China and France. Sri Lanka’s government is trying to reach a final agreement before its presidential election is scheduled to take place on September 21.
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